Section 16(1) in State Bank of India General Regulations, 1955
(1)[The Central Board or its Executive Committee] [Substituted 'A Local Board' by Resn. C.B.S.B.I. , dated 29-11-1994 (w.e.f. 15-10-1993).] may decline to register any transfer of shares unless: --(a)[ ***] [Deleted by Resn. C.B.S.B.I., dated 20-11-1964.](b)the instrument of transfer is accompanied by the certificate of the shares to which it relates, and such other evidence as the State Bank may reasonably require to show the right of the transferor to make the transfer;(c)it is satisfied after such inquiry as it may consider necessary that the transferee is qualified to be registered as a shareholder of the State Bank in respect of the shares covered by the instrument of transfer, [***]. [Omitted 'and that on registration of transfer, the transferee will not be registered on more than one register' by Resn. C.B.S.B.I. , dated 29-11-1994 (w.e.f. 15-10-1993).]
